Insider Buying: IAMGOLD (TSE:IMG) Insider Purchases C$251,371.71 in Stock

IAMGOLD Co. (TSE:IMG) (NYSE:IAG) insider Ankit Shah acquired 9,657 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of C$26.03 per share, with a total value of C$251,371.71. Following the transaction, the insider owned 9,657 shares of the company’s stock, valued at approximately C$251,371.71. This trade represents a ∞ increase in their ownership of the stock.

IAMGOLD Price Performance

Shares of TSE:IMG opened at C$25.38 on Friday. The business has a fifty day simple moving average of C$25.83 and a 200-day simple moving average of C$24.43. IAMGOLD Co. has a 52 week low of C$8.46 and a 52 week high of C$34.09. The company has a quick ratio of 1.19, a current ratio of 1.89 and a debt-to-equity ratio of 15.02. The company has a market cap of C$14.67 billion, a P/E ratio of 14.84, a P/E/G ratio of -0.28 and a beta of 2.11.

IAMGOLD (TSE:IMG) (NYSE:IAG) last posted its quarterly earnings results on Tuesday, May 5th. The mining company reported C$0.93 earnings per share (EPS) for the quarter. IAMGOLD had a return on equity of 26.05% and a net margin of 29.53%.The firm had revenue of C$1.43 billion during the quarter. Equities research analysts forecast that IAMGOLD Co. will post 1.1121076 EPS for the current year.

Analysts Set New Price Targets

IMG has been the subject of a number of research reports. TD Securities boosted their price target on IAMGOLD from C$34.00 to C$36.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. National Bank Financial boosted their price target on IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research report on Friday, April 17th. BMO Capital Markets boosted their price target on IAMGOLD from C$27.00 to C$32.00 in a research report on Wednesday, April 22nd. Stifel Nicolaus boosted their price target on IAMGOLD from C$28.00 to C$40.00 in a research report on Tuesday, February 10th. Finally, Bank of America boosted their price target on IAMGOLD from C$32.50 to C$38.00 in a research report on Thursday, February 26th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$32.07.

IAMGOLD Company Profile

Iamgold Corp is a mid-tier gold mining company operating in three regions globally North America, South America and West Africa. Within these regions, the company is developing potential mining districts that encompass operating mines and construction, development and exploration projects. The company’s operating mines include Essakane in Burkina Faso, Rosebel in Suriname and Westwood in Canada. A solid base of strategic assets is complemented by the Cote Gold construction project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in the Americas and West Africa.